YOUR COMPANY IS LOOKING FOR BUSINESS FINANCE OPTIONS!
You've arrived at the right address! Welcome to 7 Park Avenue Financial
Financing & Cash flow are the biggest issues facing business today
ARE YOU UNAWARE OR DISSATISFIED WITH YOUR CURRENT BUSINESS FINANCING OPTIONS?
CALL NOW - DIRECT LINE - 416 319 5769 - Let's talk or arrange a meeting to discuss your needs
EMAIL - sprokop@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Oakville, Ontario
L6J 7J8
Business loan options provide essential funding solutions for entrepreneurs looking to grow and sustain their ventures.
Struggling to finance your business dreams? Discover the right loan option for you!
7 Park Avenue Financial originates business financing solutions for Canadian Businesses – We offer business owners Business Loan Options & solutions that solve the issue of cash flow and working capital – Save time and focus on profits and business opportunities
Canadian Business Financing with the intelligent use of experience
CANADIAN BUSINESS LOAN OPTIONS
Business financing options in Canada. Is your firm having a ' good year' regarding loans, business borrowing, asset monetization, etc?
Unfortunately, many firms can’t make that positive statement regarding capital solutions for their company. So does a choice in financing option for your firm seem ' light years' away? It doesn't have to be true, so let's dig in.
Exploring Your Business Loan Options
Exploring business loan options is important for business owners to secure the necessary funding to grow and fund their businesses. From traditional bank loans to the new business financing landscape of alternative finance, understanding your choices can make a significant difference in achieving your business goals.
THE ROLE OF ALTERNATIVE FINANCING IN CANADA
Many forms of financing these days carry the word ‘alternative‘ with them - in reality, a better description for them is temporary, interim or conditional. Various financial institutions, including traditional banks and alternative lenders, are crucial in providing these temporary or interim financing solutions. That is to say, they are mechanisms to either give you a good financing start or in some cases, get you back to where you want to be.
ACCOUNTS RECEIVABLE FINANCING IS THE MOST POPULAR ALTERNATIVE FINANCE SOLUTION IN CANADA
One such method is receivable financing. Accounts receivable financing can help businesses cover various expenses, such as payroll, inventory purchases, and operational costs.
When your firm has sales revenues but can’t qualify for traditional commercial bank lines of credit, then A/R finance steps up to the plate quickly… Very typical timelines for a firm to have and carry such a facility tend to be 1 to two years. More often than not, the company regains its banking status (lower cost) and then continues to grow and thrive positively.
One often misunderstood point about AR finance is that it only includes companies selling real products. However, suppose your firm provides a service, or perhaps software, or even has progress billings related to the delivery of your services. In that case, your business can still be financed in this manner.
WHAT IS THE BEST A/R FINANCING TYPE OF SOLUTION? SPOILER ALERT - IT IS 'CONFIDENTIAL'
Another major misconception is that when you are working with a commercial receivable financing company they tend to take complete control of your A/R function, including billing and collections and client notifications.
That certainly DOES NOT work for many of our clients, so we propose the 7 Park Avenue Financial CONFIDENTIAL A/R FINANCING solution. The bottom line on that one? You bill and collect your own receivables and maintain full control of the client interaction. This confidential A/R financing solution provides a secure way to manage receivables while helping you secure financing tailored to your business needs.
CONSIDER AN ASSET BASED NON-BANK LINE OF CREDIT TO IMPROVE YOUR BUSINESS CREDIT SCORE
Another form of solid financing solution, often ‘ interim’, is the ABL loan. A strong business credit score can improve the chances of obtaining an asset-based non-bank line of credit. It is a comprehensive business line of credit that combines your assets with accounts receivables.
UTILIZE EQUIPMENT FINANCING FOR ASSET ACQUISITION NEEDS
Companies often need new assets to grow or maintain their competitive posture. Enter equipment financing, allowing you to finance assets.
Although everything from a new photocopier to a laptop upgrade for your employees can be lease financed, the solution makes the most sense regarding larger ticket items. That is a proven fact - using our friends in the U.S. as an example, over 85% of oversized ticket items in business are acquired through a lease financing solution.
THE OPERATING LEASE IS THE OPPOSITE OF A LEASE-TO-OWN STRATEGY - IT'S A LEASE TO USE!
One of the most popular methods in the past of acquiring assets under a leasing strategy was using the ' operating lease'. If we could call it that, this financial' trick allowed you to move asset debt off the balance sheet ... the arrangement being that you were ' using ' the asset, not ' owning ' it with the debt that comes with that type of transaction. Over the years, bankers, analysts, and investors in companies have more or less figured out that it's still a debt; they have to dig harder in the financials to figure it out!
Although operating leases seem less in vogue today, they still make solid sense as technology solutions for computer hardware, software, telecom equipment, etc.
4 REASONS WHY YOU MIGHT NEED TRANSITIONAL FINANCING
You might be looking for a transitional finance solution for many reasons. They might include:
1. Meteoric growth (typically not understood by banks)
2 Cash flow and debt ratios that is temporarily out of whack
3. Repayment required to investors/partners
4. CRA issues that need to be resolved (ASAP!)
Etc!
KEY TAKEAWAYS
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Small Business Loans - These are versatile loans designed specifically for small businesses, offering flexible terms and competitive rates.
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Unsecured Business Loans - These loans do not require collateral, making them accessible to businesses without significant assets.
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Business Line of Credit - This option provides a flexible credit limit that businesses can draw from as needed, ideal for managing cash flow.
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SBL Loans - Backed by the Small Business Administration, these loans offer low interest rates and long repayment terms.
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Equipment Financing - This loan is used to purchase business-related equipment, allowing businesses to spread the cost over time.
CONCLUSION
Seek out and speak to a trusted, credible and experienced Canadian business financing advisor, who will show you the financing you need isn’t in fact ' light years ' away, it's here today with interim solutions that make sense.
FAQ
What types of business loan options are available?
There are several options, including small business loans, unsecured business loans, business lines of credit, SBL loans, and equipment financing.
How do I qualify for a business loan?
Qualification criteria vary by financial institutions and commercial lenders but typically include credit score, business revenue, time in business, and financial statements.
What is the difference between secured and unsecured business loans?
Secured loans require collateral, while unsecured loans from a financial institution such as a bank do not. Unsecured loans may have higher interest rates due to the increased risk to the lender.
Can I get a business loan with bad credit?
Some lenders specialize in loans for small businesses with bad credit or if the owner has a bad personal credit score, though the interest rates may be higher when you borrow money.
How long does it take to get approved for a business loan?
Approval times vary by lender and loan type, ranging from a few days to several weeks.
What is invoice financing, and how does it work?
Invoice financing allows businesses to borrow against their outstanding invoices, providing immediate cash flow without waiting for customer payments.
What are merchant cash advances?
Merchant cash advances provide upfront funds in exchange for a percentage of future credit card sales, offering quick access to capital.
How can a business line of credit help manage cash flow?
A business line of credit provides flexible access to funds, allowing businesses to draw and repay as needed, ideal for managing fluctuating cash flow.
What are the benefits of SBL loans?
SBL loans offer low-interest rates, long repayment terms, and support for small businesses, making them an attractive option for many entrepreneurs. The need for more equity financing can often be solved with a government loan as an alternative.
How does equipment financing work?
Equipment financing allows businesses to purchase necessary equipment by spreading the cost over time, preserving cash flow and working capital.
What are the main types of business loan options?
The main types include small business loans, unsecured business loans, business lines of credit, SBL loans, and equipment financing.
How do SBL loans differ from traditional bank loans?
SBL loans are partially guaranteed by the Canadian Government /Industry Canada and offer lower interest rates and longer repayment terms than traditional bank loans.
What factors should I consider when choosing a business loan option?
Consider the loan amount, interest rates, repayment terms, collateral requirements, and the lender's reputation to find the best fit for your business needs.
